Deloitte Risk Intelligence

It’s not goodbye ... it’s tweet you later!

Fri, 14 Jun 2013 16:04:33 +0530

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Enemy at the gates: What executives need to know about the keys to the organization’s front door

Tue, 14 May 2013 19:07:16 +0530

Pressure is mounting for organizations to not only detect threats, but to also prevent them - before they can affect critical business processes or sensitive data. These potential threats include an enterprise’s brand equity, competitive posture and reputation.

The compliance agenda starts here

Mon, 6 May 2013 15:29:44 +0530

Whether your organization is highly regulated, unregulated, public or private, it’s likely that compliance is a core business issue on your immediate agenda. As government regulation deepens around the world, its importance is only growing. While there’s been plenty of talk about the role of an enterprise compliance approach in managing these risks, the details have always been a little fuzzy ... until now.

Deloitte’s new book, Enterprise compliance: The Risk Intelligent approach, explains the key components of enterprise compliance and offers senior executives and board members a practical guide to the tough questions they should be asking about their own compliance efforts.

Arsenic in rice: An old issue that’s still emerging

Mon, 6 May 2013 15:27:53 +0530

Have you ever thought about arsenic while consuming that burrito or while feeding your baby her first rice cereal? Honestly, the thought never crossed my mind. As a food scientist, you learn a lot about foods; sometimes it changes the way you eat and other times it has no effect on your diet. However, some information that came out last year from the FDA put the topic in perspective for me, particularly as a new mother who had just fed her daughter a lot of rice cereal.

Read this new article by Christie Gray, manager, Food Safety, Deloitte & Touche LLP.

I’ll have a PB&J sandwich, hold the S please

Mon, 8 Apr 2013 18:00:46 +0530

Working in the food industry, it’s hard to miss the numerous peanut butter outbreaks and recalls that have happened over the past few years. Many were caused by Salmonella contamination.

And, when I take a closer look, it’s not just peanut butter in my sandwich. There have been many significant Salmonella outbreaks and recalls associated with low moisture ready-to-eat (RTE) foods, including: chocolate, powdered infant formula, raw almonds, toasted oats breakfast cereal and dry seasonings, to name a few.

The risk intelligent chief compliance officer: Champion of risk intelligent compliance

Mon, 8 Apr 2013 17:56:35 +0530

In today’s demanding regulatory environment, effective compliance risk management is a smart - and essential - business investment. At the same time, no company wants to spend more time, effort or money on compliance than it "needs" to. How can leaders determine the company’s compliance risk management "needs" with enough confidence to understand where and how to allocate its compliance investments?

Aftershock: Adjusting to the new world of risk management

Mon, 8 Apr 2013 17:55:46 +0530

"Aftershock: Adjusting to the new world of risk management" offers a glimpse into risk management’s anticipated future direction among 192 U.S. executives from companies in the consumer and industrial products, life sciences, health care, technology, media and telecommunications industries. Read more to find out how others are dealing with the most pressing risk issues they face today. .

Five questions on retaliation risk

Mon, 1 Apr 2013 19:03:23 +0530

The interconnected issues of whistleblowers and retaliation lawsuits are experiencing a resurgence among businesses today, pushed along by new regulatory frameworks like those found in whistleblower provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Too often, companies don’t realize their exposure to retaliation risks until it’s too late.

How can leaders help guard their organizations from such risks? How can they foster a culture that empowers employees to actively engage with the issues of ethics and compliance? Risk Intelligent organizations are already taking a proactive approach to these challenges; designing and deploying programs that seek to encourage a speak-up culture - one that promotes internal reporting and resolution before problems spiral out of control.

In this issue of Risk Angles, Robert Biskup offers some thoughts on questions executives ask him most frequently about this issue. Then, Brian Huchro takes a closer look at the role of culture in managing retaliation risks.

Supply chain resilience: A Risk Intelligent approach to managing global supply chains

Mon, 1 Apr 2013 18:50:16 +0530

Supply chain risk is on the rise. "Black swan" events that were once extremely rare now seem to be an almost everyday occurrence, not necessarily because the problems that trigger them are happening more often, but because globalization has greatly expanded their impact. Meanwhile, the endless push to improve efficiency and reduce costs has created new kinds of supply chain risk and reduced the margin for error. And thanks to social media and the Internet, when a company or one of its supply chain partners stumbles, the public often hears about it before the CEO does. These trends are redefining the concept of acceptable supply chain risk.

In "Supply chain resilience" we outline a practical and proven approach for addressing these challenges. Given the scale and complexity of today's global supply chains, there is no way to predict and prepare for every possible risk. The best a company can do is build resilience into its supply chain - proactively addressing the critical vulnerabilities that expose the organization to risks that exceed its risk tolerance. A resilient supply chain is able to sidestep a wide range of risks and, perhaps even more important, can bounce back quickly when a problem occurs.

Unlocking value in health plan M&A: Sometimes the deals don’t deliver

Mon, 11 Feb 2013 16:14:28 +0530

Deloitte’s analysis of 44 health plan merger and acquisition (M&A) transactions found that fewer than half led to sustained improvements in comparative market value three years after the deal closed.

2013 health care outlook

Mon, 11 Feb 2013 16:13:44 +0530

What’s around the corner for health care organizations and policymakers in 2013? Deloitte’s industry leaders discuss the coming year’s top issues and trends.

Risk Angles: Five questions on risk assessment

Mon, 11 Feb 2013 16:12:27 +0530

Companies can spend an enormous amount of effort cataloguing the risks that could affect them at any given moment, on every front. While it’s important to develop that visibility, it’s just as important to measure and prioritize risks so that the organization is prepared to respond to them in an appropriate manner. Because the environment in which you’re operating is constantly - and quickly - evolving, it’s important that organizations are focusing on the right risks, at the right time, in the right ways.

That’s where risk assessment comes in. Assessment is the technique companies use to determine the significance of individual risks in light of business goals. In this issue of Risk Angles, Dr. Patchin Curtis, director, Deloitte & Touche LLP, offers her thoughts on some questions the executive team should consider asking about the risk assessment process. Then, Dr. Mark Beasley, Deloitte professor of Enterprise Risk Management at North Carolina State University, takes a closer look at risk prioritization, probabilities and appetite.

Five questions on managing risk in the midst of volatility

Tue, 15 Jan 2013 17:08:03 +0530

In just about any business, managing risk has been a little like keeping order on a storm-tossed ship. The environment is always changing, creating new challenges with every passing day. But over the past few years, it has frequently felt more like being caught in hurricane-force winds, when it’s hard enough to know which direction is up.

Get used to it. Volatility is widely expected to dominate the business environment for the foreseeable future. In fact, when Deloitte and Forbes Insights recently surveyed leading U.S. executives responsible for risk, we found that 91 percent plan to reorganize and reprioritize their approaches to risk management in the coming three years. Nearly 80 percent said this was due to market volatility over the past three years.

Five questions on business risks related to water and other critical resources

Thu, 3 Jan 2013 21:11:59 +0530

Water is something most of us take for granted. However, as demand for water continues to rise, more and more companies are learning that water is a finite resource and that water scarcity may have a big impact on the bottom line. In some cases it can even threaten a company's ability to operate, as well as its reputation.

Five questions on corporate governance and risk

Thu, 3 Jan 2013 21:10:25 +0530

Corporate governance was more straightforward back in the day when roles were defined simply as "management acts the board oversees." But today, that approach may not hold up - not when boards are scrutinized from all sides by regulators, shareholders, the media and analysts, to name a few.

So what’s the primary role of the board of directors today? Is it to simply oversee executive management’s activities? Or should the board take an active role as strategic partners, working alongside management to deal with the enterprise’s toughest problems? And what’s the board’s role as it relates to risk and culture? There are no "one size fits all" answers, but it’s important that the board and executive management agree on how they will work together to build a Risk Intelligent organization.

mHealth in an mWorld

Thu, 20 Dec 2012 16:08:54 +0530

Mobile apps only scratch the surface of possibilities offered by mHealth. Improvement opportunities exist along the value chain, from engaging patients to maximizing provider productivity to controlling costs.

The state of the cybersecurity workforce

Tue, 6 Nov 2012 19:23:09 +0530

Cybersecurity affects every agency, program and employee, and has become an even greater challenge to manage as global networks become more susceptible to risk. Learn how agency CIOs can develop cyber strategies and support the desired goals to recruit, retain and develop the cyber workforce amidst the growing talent gap.

2012 Deloitte-NASCIO cybersecurity study: State governments at risk

Thu, 1 Nov 2012 14:44:26 +0530

The second biennial Deloitte-National Association of State Chief Information Officers (NASCIO) Cybersecurity Study, conducted in the summer of 2012, assessed the security of state digital data and cyber assets administered by state chief information security officers (CISOs).

CISOs from 48 states and two U.S. territories participated in the survey, and 63 business official stakeholders from a broad cross-section of states responded to a parallel survey. The study highlights the challenges states and CIOs/CISOs face in protecting states’ critically important systems and data. The survey results call for a greater collaboration among state CIOs/CISOs and business/program leadership of the executive branch agencies and elected officials."

The 2013 Essential Tax and Wealth Planning Guide

Thu, 1 Nov 2012 14:41:56 +0530

As we face 2013, the uncertainty of our tax and legislative environment is coming to a head - we’re again facing possible tax rate changes along with the expected sunset of favorable wealth transfer policies on January 1. The 2013 Essential Tax and Wealth Planning Guide discusses opportunities available through the final few months of 2012 and the planning environment beyond, as policy makers continue a tax reform debate that could fundamentally change how individual taxpayers compute their taxes.

The Affordable Care Act timeline

Mon, 22 Oct 2012 21:51:31 +0530

The Affordable Care Act (ACA) contains provisions to expand health care coverage, improve the delivery system and outcomes, and control costs.

Risk Intelligence: Explore our latest resources

Tue, 18 Sep 2012 17:18:35 +0530

Even in - especially in - a volatile environment like the one we face today, Risk Intelligent planning is critical. Yet, just about each new week brings a fresh set of headlines indicating that some of the world’s largest, most successful companies still have holes in their approaches to risk management. Explore our latest insights on risk strategies to learn more.

Risk Intelligence trends and imperatives

Thu, 26 Apr 2012 16:28:51 +0530

A Risk Intelligent Enterprise is one where boards and executive-level management integrate risk considerations into strategic decision making, where business units and functions incorporate Risk Intelligence into every action they undertake. And managing with confidence begins by staying on top of hot topics such as cyber security, compliance and reputational risk.

Introducing the Center for Regulatory Strategies

Thu, 15 Mar 2012 15:41:43 +0530

Businesses across most every industry face a wave of new regulation. In some cases the changes are so extensive that they may challenge the viability of some business models.

Deloitte’s Center for Regulatory Strategies is a powerful resource of information and insight on regulatory matters, including industry and regulatory specialists with expertise to help companies manage the complexity and convergence of rapidly increasing new regulation. The Center combines the strength of Deloitte’s nationwide network of experienced risk, regulatory and industry professionals, including a deep roster of former regulators, industry specialists and business advisors with a rich understanding of how multiple and converging regulations affect business.

Risk Angles: Five questions about risk committees

Thu, 15 Mar 2012 15:40:23 +0530

Board members have expressed increasing concern about their risk-oversight roles and responsibilities - and how best to fulfill them. This isn’t just an issue for financial services firms, where recent regulations have started to require (not just suggest) board-level risk committees. These days, a range of large organizations have begun exploring how risk committees can help them better navigate an uncertain economic and regulatory environment.

In this Risk Angle, Henry Ristuccia, Deloitte & Touche LLP partner and co-leader of Governance and Risk Management Services, answers questions about the value of board risk committees and what’s involved in establishing one. Afterward, Maureen Errity, director, Deloitte LLP Center for Corporate Governance, lends her perspective, based on recent research that analyzed trends around risk governance and oversight practices.

Risk Angles: Five questions about reputational risk

Mon, 12 Mar 2012 18:40:06 +0530

Ask senior executives which risks concern them most and many are likely to place "reputational risk" near the top of the list. That’s because reputational risk is a meta-risk, reflecting the combined impacts of many other types of risks, ranging from supply chain to cybersecurity and beyond. While some organizations address reputational risk primarily by focusing on managing its component parts, we see increasing examples of organizations tackling this risk more holistically. In this Risk Angle, we take a few minutes with Jonathan Copulsky, author of the recent book Brand Resilience: Managing Risk and Recovery in a High-Speed World, to get his take on managing reputational risk.

CFO Signals: 2011 Q4 results

Fri, 27 Jan 2012 15:03:40 +0530

CFO concerns about the impacts of government policy (especially tax policy and detrimental regulatory changes) continued this quarter, but worries over domestic and foreign economies were more pressing overall.

Risk Intelligence: Focus on risk committees

Thu, 19 Jan 2012 19:15:31 +0530

Even outside the financial services industry - where risk committees will become more prevalent with the Dodd-Frank Wall Street Reform and Consumer Protection Act, as well as the Federal Reserve’s notice of proposed rulemaking (NPR) on enhanced prudential supervision - many large companies are starting to explore how a board risk committee might help them navigate the broadening array of risks in today’s uncertain economic and regulatory environment. Explore our latest resources to learn more.

Economy - CFO Signals: 2011 Q3

Thu, 20 Oct 2011 16:32:03 +0530

Deloitte's Q3 CFO Signals survey finds nearly 45 percent of CFOs say economic woes are their most worrisome risk. Learn more about the steady and opportunistic approaches to economic volatility that are on the minds of North America's CFOs.

Risk Intelligence: Explore our latest resources

Tue, 18 Oct 2011 15:14:37 +0530

A Risk Intelligent Enterprise is one where boards and executive-level management integrate risk considerations into strategic decision making, where business units and functions incorporate Risk Intelligence into every action they undertake. And managing with confidence begins by staying abreast of rapidly changing issues such as risk disclosure, cyber security, reputation and brand resilience.

Cyber espionage: The harsh reality of advanced security threats

Mon, 10 Oct 2011 16:23:19 +0530

As cyber threat continues to evolve and disguise itself with ingenious techniques to circumvent most traditional information security programs, learn how to create a Risk Intelligent organization with cyber intelligence capability to mitigate these risks effectively.

A Risk Intelligent view of reputation

Mon, 10 Oct 2011 16:22:11 +0530

Explore how organizations can use Risk Intelligence to support a much-needed and valued "outside-in" perspective that helps identify sources of reputational opportunities and threats on an ongoing basis.

Cyber readiness in the new normal

Mon, 10 Oct 2011 16:20:56 +0530

Cyber criminals, insiders and hackers. Smart devices, clouds and crowds. New threats and technologies are shaping how federal organizations manage their risks and do business in a rapidly evolving cyber environment. How is your organization getting ahead of these threats and putting cyber to work for you?

Board relations: Have risk disclosure practices improved?

Mon, 3 Oct 2011 20:23:58 +0530

Done well, risk disclosures can identify how CFOs are fulfilling their obligations to the board in their roles as stewards. Read "Board relations: Have risk disclosure practices improved?" to understand how risk management has climbed to the forefront of many CFO agendas.

Enterprise data protection: Improving data security

Mon, 5 Sep 2011 15:29:48 +0530

Recent high-profile data breaches exposed critical flaws in the way government agencies manage sensitive information. Learn about the security measures the federal government is adopting to protect data.

The risk intelligent CFO: Converting risk into opportunity

Wed, 24 Aug 2011 14:34:46 +0530

Boards and the C-suite are increasingly turning to CFOs as the voice of risk-related thinking. Given the comprehensive view available to CFOs – across balance sheets, corporate transactions, and the business – they are strategically positioned to recognize, manage, and report risks and opportunities to key stakeholders. By developing a more strategic vision and approach, the CFO can assist the organization in taking the right risks – and taking the right amount of them.

Pursuing risk intelligence in a rapidly changing industry

Wed, 24 Aug 2011 14:33:53 +0530

The pharmaceutical industry continues to evolve and change, particularly in light of a number of important industry trends that are reshaping its future, including: product/service and geographic diversification; consolidation; increased regulation; commercial model changes; and R&D model changes. As management and boards of pharmaceutical companies grapple with this increased complexity and market turmoil, they search for ways to address both the threats and opportunities that may come with disruptive change.

Evolve or fail

Tue, 2 Aug 2011 16:38:58 +0530

With policies in place for technology governance, risk and compliance, many business leaders have assigned responsibility for security to IT, confident that their fiduciary and legal obligations are being met. But a compliance oriented approach to enterprise and IT risk may overlook many of the threats that matter most.

Brand resilience

Tue, 2 Aug 2011 16:38:06 +0530

With the continued ascent of social media and mobile technologies, brand sabotage incidents seem poised to increase. Building a great and resilient brand now requires playing aggressive defense, as well as offense. Building the capabilities to detect, respond to and recover from incidents of brand sabotage is emerging as a priority.

Intelligent risk touches everyone down the line

Thu, 14 Jul 2011 19:19:38 +0530

Risk can be a maddeningly tough business management concept to pin down. Theoretically, everybody gets it. But practically? That’s a different story. Explore our latest risk management resources to learn more.

Brand risk higher than ever: Where to focus to protect your brand

Mon, 13 Jun 2011 15:10:11 +0530

Brand reputation is more precarious than ever. Online news and social media can immediately turn a small blunder into a public relations catastrophe, making even the most venerable brands vulnerable to attack. As enterprises become more global and virtual, many leaders recognize that they must vigorously defend their brand against the threat of saboteurs. But are disgruntled customers and aggressive competitors the biggest threats to brands? Or are intentional or accidental disruptions from within even more dangerous? Should your brand defense strategies first target potential saboteurs on the outside? Or those within?

Key factors shaping financial reporting

Thu, 2 Jun 2011 15:24:24 +0530

In the U.S. and other major economies, the first decade of the 21st century ended with a global credit crisis and a number of highly stressed or failed financial institutions. A major concern raised by these events is the ability of financial statements to warn users of the risks of failure, even when the statements are prepared according to current financial reporting frameworks. This paper examines the lessons of the recent past and what changes may be needed so that future financial reporting might equip preparers and users to better navigate the challenges ahead.

Security and privacy in the evolution of cloud computing

Thu, 26 May 2011 14:56:32 +0530

"Cloud computing is the latest IT rage, but security and privacy are still chief adoption concerns for many organizations. What are the issues and what can enterprises do about them today? Join the webcast to learn more about: • The evolution of cloud computing to deliver more refined capabilities • Potential security and privacy issues across the cloud environment and a candid look at differences between the cloud and traditional IT • Potential approaches to tackling cloud security and privacy challenges Explore emerging cloud security implications in light of general concerns and ways for your organization to take responsible first steps toward cloud adoption."

Brand Resilience: Managing Risk and Recovery in a High-Speed World

Fri, 13 May 2011 14:51:32 +0530

Great brand marketers know what it takes to build great brands. In this new book, Deloitte Consulting LLP's Jonathan Copulsky provides the tools and frameworks to help you determine how susceptible your organization is to brand sabotage and some actions you can take to reduce its likelihood and impact. Learn more.

Know the Full Measure of Risk Before You Take It

Thu, 31 Mar 2011 21:54:47 +0530

Managing with confidence begins by knowing the people at every level of your company are accurately assessing risk. And taking smart ones. Explore our resource library to learn more.

Running the Risk Intelligent Enterprise

Thu, 16 Dec 2010 21:03:45 +0000

Risk Intelligent enterprise management treats risk management as an integral part of managing the enterprise’s strategy and operations, not as a separate, siloed process. Learn how risk management can be “built in” to your organization.

Risk Intelligence: Take Risks Confidently

Thu, 16 Dec 2010 21:03:45 +0000

With so much emphasis on new ways of conducting business and managing assets right now, great risk — and opportunity — can live in unexpected places. Learn how Risk Intelligence can help your company confidently change with the times and accelerate.

IFRS: The Emerging Convergence Challenge

Thu, 9 Dec 2010 21:03:45 +0000

Convergence is not the same as conversion to IFRS. CFOs can undertake selective planning activities and take steps now to help manage the additional effort related to the transition to these new standards.

Major Embezzlements: How Can They Get So Big?

Thu, 2 Dec 2010 21:03:45 +0000

Can embezzlements be almost as damaging as financial statement fraud in terms of financial or reputational risk? Learn ten things employers can do to help mitigate the risk of embezzlement or to help detect it earlier if it occurs.

Cut Costs & Drive Value With an IFRS Center of Excellence

Thu, 2 Dec 2010 21:03:45 +0000

An IFRS CoE can potentially help CFOs improve efficiencies and reduce financial reporting costs.

Risk Intelligent Proxy Disclosures: Transparency Into Board-Level Risk

Thu, 2 Dec 2010 21:03:45 +0000

Learn about Deloitte's analysis of 398 proxy statements to identify reported risk oversight practices.

Shaping a Risk Intelligent Strategy

Thu, 2 Dec 2010 21:03:45 +0000

Deloitte's new white paper proposes a simple yet powerful framework for challenging deeply held assumptions to test – and, ultimately, strengthen – an enterprise’s strategy.

Risk Poll

Thu, 30 Sep 2010 21:03:45 +0000

We want to hear from you! What is your biggest risk management concern?

Risk Intelligent Decision-Making